GeorgeT
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Post by GeorgeT on Jun 11, 2017 0:57:20 GMT
An extension and no planning. Can't for the life of me see why anyone would be happy to hold anything to term when you don't have to. Why carry risk when you can dispose of it. It's still paying 12%, the security is good and the borrower is very good (and just posted profits of £5.6m) - My DD says this is a good loan; fairly confident it will turn into a DFL (if not, I still very confident that it will end with successful repayment). My above concerns were with LY and their misinformation, not the actual loan; even without PP, the security is good (and the valuation carries no hope value). Some loans I will sell before term if the opportunity allows me to - this is not one that I feel the need to do. As you know GeorgeT , I invest in "good secured" loans, not any loan that simply offers 12%, and I don't see many "good secured" loans on LY - this is one of the few I actually like; so why would I sell up and move funds into a less secure loan? At the end of the day, if the "pass the ticking parcel" game that you play comes to a sudden stop, I would rather hold this loan, than most of the longer term loans on LY. Fair enough. I still feel more relaxed playing pass the parcel - but of course I'm finding I cannot hold the parcel for nearly as long as I used to. I think my strategy is time limited as the platform enlarges and I may have to withdraw fom the table at some point this year. But for now, it's still working for me because the majority of my stuff is 275 days + and 12%, and that still sells - albeit not as fast as before.
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Post by lendinglawyer on Jun 12, 2017 10:16:07 GMT
From scrolling through some recent discussions on this Lendy board, this thread and a couple others, that didn't last long. I think you and cooling_dude probably just need to agree to disagree on this one as the gap between your strategies looks unbridgeable! DD can fail. SM sell-out can fail. The positive to take from all of it is that you both have clearly defined strategies and if it goes wrong at least it was a conscious decision. I suspect many investors (though less likely those on this forum) just charged blindly into all loans and "forgot" about them, which no-one can accuse either of you of!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 12, 2017 10:49:17 GMT
From scrolling through some recent discussions on this Lendy board, this thread and a couple others, that didn't last long. I think you and cooling_dude probably just need to agree to disagree on this one as the gap between your strategies looks unbridgeable! DD can fail. SM sell-out can fail. The positive to take from all of it is that you both have clearly defined strategies and if it goes wrong at least it was a conscious decision. I suspect many investors (though less likely those on this forum) just charged blindly into all loans and "forgot" about them, which no-one can accuse either of you of! I didn't start this line of conversation - my OP was in relation the loan - georget jumped in with a snide remark, and I did feel I had to defend my post. I would agree to disagree, but the issue I have is that this being a public forum have others looking for guidance - now, I'm not saying I have it right (I have my disclaimer on my footer... I see some have borrowed some of it  ), but there is a style of posting by georget to suggest that his method is the best way of investing... that he is being 'risk averse' - sod the DD. I would encourage all to gather multiple opinions and study the risks - but there is a risk that many will see georget and simply say "hey - that's the way to do it - who needs DD" (ironically, the more that do this would reduce the effectiveness of the scheme). So I will continue to argue passionately that the "dump & run" strategy is not a method of investing that is considered sensible. I'm not saying that selling at or before term isn't a good idea; it is a good idea, and I would be hypocritical if I said I didn't - but don't substitute common sense with a disrespect of the risks; you should invest in every loan fully expecting to hold to term, and is exactly what the SM is telling us ATM, and why you should at least do some DD. Yes, fine but could you both ( GeorgeT) agree to do it in a specific thread rather than it popping up everywhere like a Caddyshack gopher 
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r1200gs
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Post by r1200gs on Jun 12, 2017 11:36:48 GMT
Yes, fine but could you both ( GeorgeT ) agree to do it in a specific thread rather than it popping up everywhere like a Caddyshack gopher Like I said - I didn't start the line of conversation... I see it more like whack-a-mole... I will give it a rest, and try to ignore georget (hmmm... I think there is a button for that...) There's somebody on this forum (not you two) that I find to be a big headed know it all who likes to make all around feel inferior. I simply HAVE to ignore him. He seems to have noticed and doesn't respond to my posts any more. Some times you have to do it. As it happens, depending on the loan, I use both of your strategies. As time has gone on though, less and less reliance of the SM. Keep up the good work CD. Lot's of people appreciate your DD even if they don't mention it (so I thought I would). 
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 27, 2017 12:27:54 GMT
Planning application now visible on portal. Should be noted that the original application date was in Nov 16 so all Lendy updates have actually been correct regarding submission of planning having occurred. No indication of when it will be decided though it does appear to have council support and a favourable response from pre full app discusions.
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Post by ladywhitenap on Jun 27, 2017 13:05:20 GMT
Good Shout Ilmoro! I've been looking every now and then but not recently.
Did you notice that you can register to track changes. They will email you when it gets updated. 90 odd documents in the application so not an instant job to file the application.
Search using V******* M*** on Manchester Planning Applications
LW
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jul 18, 2017 15:08:18 GMT
PBL142 - V.M. Manchester - received a two month extension today taking it's term from -20 to +41 days and out of SBL, back to IOA.
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bababill
Member of DD Central
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Post by bababill on Jul 19, 2017 18:19:57 GMT
So is there a bonus for -21 days when it was held?
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hazellend
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Post by hazellend on Aug 18, 2017 16:28:39 GMT
Looks like planning permission is imminent for this one. Should be a great DFL as long as it's 12%
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Liz
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Post by Liz on Aug 18, 2017 16:35:50 GMT
Looks like planning permission is imminent for this one. Should be a great DFL as long as it's 12% Depending on LTV of course, we have seen what can go wrong with developments on the exeter loans. The valuation is very easy to prove with next door sales available and should be a great development.
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oldgrumpy
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Post by oldgrumpy on Aug 18, 2017 16:36:02 GMT
Shall I start casting a spell so that the loan gets poached by MT or COL for the development finance? |
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Liz
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Post by Liz on Aug 18, 2017 16:39:28 GMT
Shall I start casting a spell so that the loan gets poached by MT or COL for the development finance? No, they dont have the gold plated PF I would like to get some in my FS ISA if it is being poached Sub 60% LTV of course and 13-14% interest with a bonus.
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oldgrumpy
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Post by oldgrumpy on Aug 18, 2017 16:43:41 GMT
Shall I start casting a spell so that the loan gets poached by MT or COL for the development finance? No, they dont have the gold plated PF I would like to get some in my FS ISA if it is being poached Sub 60% LTV of course and 13-14% interest with a bonus. Mine's full. COL might do 12/13% + 4% cashback. 
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Post by ladywhitenap on Sept 26, 2017 8:49:21 GMT
I've just had a notification from the relevant planning authority that there has been an update to the planning process for this site.
But looking online I can't see any recent material change to the documents or that any decision has been reached.
Can anyone shed any further light please?
LW
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guff
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Post by guff on Sept 26, 2017 9:43:06 GMT
I've just had a notification from the relevant planning authority that there has been an update to the planning process for this site. But looking online I can't see any recent material change to the documents or that any decision has been reached. Can anyone shed any further light please? LW And no reference at the August/September committee meetings.
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), but there is a style of posting by georget to suggest that his method is the best way of investing... that he is being 'risk averse' - sod the DD. I would encourage all to gather multiple opinions and study the risks - but there is a risk that many will see georget and simply say "hey - that's the way to do it - who needs DD" (ironically, the more that do this would reduce the effectiveness of the scheme).
